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Flynn setting up new retirement specialist

Former Origen head of retirement planning Nick Flynn has set up a new retirement specialist IFA business with ex-Origen employees.

The firm, The Retirement Adviser, will advise individual and corporate clients, specialising in annuities, Usps, Asps and pension transfers.

The firm has been set up as a division of the LEBC group, a big IFA firm which is part of Sesame.

Currently, there is a team of five, with four ex-Origen staff and one, Mark Taylor, who used to work for Regent.

Flynn says its own in-house system and processes will allow it to transact large volumes efficiently and will separate it from competitors.

He says the firm will typically target the middle to higher-end consumer with around £100,000 worth of investments.

He says: “We are seeing more annuity business than drawdown. The future of this will depend on annuity market rates but already we are seeing over 50 per cent of our business is annuities.”

The firm will be offering a referral service for advisers who do not want to specialise in this area and will run a recruitment drive in 2009.


Sum failure for pension calculator

The ABI/FSA online pension calculator has not been running for two months and neither the FSA nor ABI can say when it will be operating again. ABI spokesman Jon French says the ABI is looking to fix the calculator as soon as possible but he is unable to give a specific timescale.

Firms urged to diversify from AUM

Outgoing Personal Finance Society president Robert Reid has warned that adviser businesses relying solely on assets under management could be hit by losses of 30-40 per cent this year.


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